Report Update: Nov 1, 2024

U.S. - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Iron Bar Prices in the United States

U.S. Iron Bar Import Price per Ton in June 2022

In June 2022, the iron bar price per ton amounted to $1.3K (CIF, US), rising by 22% against the previous month. Over the period from January 2022 to June 2022, it increased at an average monthly rate of +3.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was the UK ($2.5K per ton), while the price for Turkey ($919.0 per ton) was amongst the lowest.

From January 2022 to June 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Iron Bar Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In August 2022, the product with the highest price was steel, stainless ($6.8K per ton), while the price for iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($937.2 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by hot-rolled wire stainless steel rod (+6.0%), while the prices for the other products experienced more modest paces of growth.

U.S. Iron Bar Imports

In August 2022, approximately 258K tons of bars and rods of iron or steel (hot-rolled) were imported into the United States; declining by -38% on July 2022 figures. In general, imports recorded a mild downturn. The pace of growth appeared the most rapid in July 2022 with an increase of 48% m-o-m.

In value terms, iron bar imports dropped markedly to $329M (IndexBox estimates) in August 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in May 2022 when imports increased by 44% against the previous month. As a result, imports reached the peak of $514M. From June 2022 to August 2022, the growth of imports remained at a lower figure.

U.S. Iron Bar Imports by Type

Iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (128K tons), iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (64K tons) and steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (35K tons) were the main products of iron bar imports to the United States, with a combined 88% share of total imports. These products were followed by hot-rolled bars in bearing steels, hot-rolled wire rod in coil of stainless steel, hot-rolled round bars of stainless steel and steel, stainless, which together accounted for a further 12%.

From January 2022 to August 2022, the biggest increases were in steel, stainless; bars and rods, hot-rolled, hot-drawn or extruded, other than of circular cross-section (with a CAGR of +7.8%), while purchases for the other products experienced more modest paces of growth.

In value terms, the most traded types of bars and rods of iron or steel (hot-rolled) in the United States were iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($120M), iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($78M) and steel, alloy; bars and rods, hot-rolled, in irregularly wound coils ($47M), with a combined 74% share of total imports. Hot-rolled bars in bearing steels, hot-rolled wire rod in coil of stainless steel, steel, stainless and hot-rolled round bars of stainless steel lagged somewhat behind, together comprising a further 26%.

U.S. Iron Bar Imports by Country

Canada (74K tons), Mexico (39K tons) and Algeria (35K tons) were the main suppliers of iron bar imports to the United States, with a combined 53% share of total imports. Japan, Turkey, Germany, Brazil, Egypt, India, the Dominican Republic, South Korea and the UK lagged somewhat behind, together comprising a further 42%.

From January 2022 to June 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +86.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($100M) constituted the largest supplier of iron bar to the United States, comprising 27% of total imports. The second position in the ranking was taken by Mexico ($48M), with a 13% share of total imports. It was followed by Japan, with a 9.4% share.

From January 2022 to June 2022, the average monthly growth rate of value from Canada totaled +6.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-5.4% per month) and Japan (+4.6% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
Prodcom 24106120 - Wire rod of free-cutting steel
Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
Prodcom 24106140 - Wire rod for tyre cord
Prodcom 24106190 - Other wire rod (of non-alloy steel)
Prodcom 24106210 - Hot-rolled concrete reinforcing bars
Prodcom 24106230 - Hot-rolled bars in free-cutting steels
Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
Prodcom 24106410 - Hot-rolled round bars, of stainless steel
Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
Prodcom 24106630 - Hot-rolled bars in bearing steels
Prodcom 24106640 - Hot-rolled bars in tool steels
Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023